In the last few decades, the broad scope of nanomedicine has played an important role in the global healthcare industry. Biological acquisition methods to obtain nanoparticles (NPs) offer a low-cost, non-toxic, and environmentally friendly approach. This review shows recent data about several methods for procuring nanoparticles and an exhaustive elucidation of biological agents such as plants, algae, bacteria, fungi, actinomycete, and yeast. When compared to the physical, chemical, and biological approaches for obtaining nanoparticles, the biological approach has significant advantages such as non-toxicity and environmental friendliness, which support their significant use in therapeutic applications. The bio-mediated, procured nanoparticles not only help researchers but also manipulate particles to provide health and safety. In addition, we examined the significant biomedical applications of nanoparticles, such as antibacterial, antifungal, antiviral, anti-inflammatory, antidiabetic, antioxidant, and other medical applications. This review highlights the findings of current research on the bio-mediated acquisition of novel NPs and scrutinizes the various methods proposed to describe them. The bio-mediated synthesis of NPs from plant extracts has several advantages, including bioavailability, environmental friendliness, and low cost. Researchers have sequenced the analysis of the biochemical mechanisms and enzyme reactions of bio-mediated acquisition as well as the determination of the bioactive compounds mediated by nanoparticle acquisition. This review is primarily concerned with collating research from researchers from a variety of disciplines that frequently provides new clarifications to serious problems.